At a Glance
- Tasks: Review and validate models to manage and mitigate model risk across the bank.
- Company: Join a leading bank with a focus on innovation and teamwork.
- Benefits: Hybrid working, competitive salary, and opportunities for professional growth.
- Other info: Collaborative environment with strong career advancement potential.
- Why this job: Make a real impact by ensuring models are fit for purpose in decision-making.
- Qualifications: Postgraduate degree in a quantitative field and experience in model review or development.
The predicted salary is between 60000 - 80000 £ per year.
Join us as a Model Risk Officer. As a Model Risk Officer, you’ll be advancing your skillset and advising on how model risk can be reduced or mitigated. We’ll look to you to review and challenge first line model assurance activities performed by model development teams. You’ll gain strong exposure, with the opportunity to develop key relationships with relevant management, colleagues, model owners, developers and end-users.
In this key role, you’ll be helping us to maintain and control the bank-wide model inventory and associated model risk assessments. You’ll review and validate models across the bank, ensuring they are fit for purpose. This will include models used in customer, business and strategic decision-making, as well as external disclosures and regulatory calculations or returns.
Throughout your work, you’ll report on the findings of model risk management reviews, making sure they are tailored to your audience, which will include senior management, regulators, model developers, and end-users. You’ll also be:
- Implementing and maintaining appropriate and proportionate mandatory procedures that define the governance of models
- Developing, maintaining and promoting the risk appetite framework in relation to model risk
- Playing an active part in the development of your team and helping to coach less experienced colleagues
- Making sure that models are appropriate for their designated uses, and that significant model risks are identified and effectively communicated to senior management and model end-users
- Performing model risk analysis to satisfy regulatory queries and requirements
The skills you'll need:
We’re looking for someone with experience in model review or development of risk models. You’ll need a strong understanding of risk modelling within traded market risk, non-traded market risk, counterparty credit risk, economic capital or pension risk. Crucial to your success in this role will be excellent problem-solving and analytical skills and your ability to communicate with and influence senior management, and develop effective relationships with a range of internal and external stakeholders.
You’ll also need:
- A postgraduate degree in a quantitative subject such as mathematics, physics or quantitative finance, or similar professional qualifications
- Hands-on, in-depth skills in advanced quantitative modelling, and knowledge of the associated risk management issues in a practical business context
- Knowledge of model risk regulatory requirements
- The ability to assist in team planning and prioritisation, including detailed planning of assigned projects within the team’s roadmap
- The ability to work well as part of a team and under the guidance of other team members, to deliver successful timely outcomes consistent with industry-leading practices
Hours: 35
Ways of Working: Hybrid
Model Risk Officer in Edinburgh employer: NatWest Group
As a Model Risk Officer at our esteemed bank, you will thrive in a dynamic and supportive work environment that prioritises employee development and collaboration. With a strong emphasis on professional growth, we offer tailored training opportunities and the chance to build meaningful relationships across various teams, ensuring your contributions are valued and impactful. Our hybrid working model promotes a healthy work-life balance, making us an excellent employer for those seeking a rewarding career in risk management.
StudySmarter Expert Advice🤫
We think this is how you could land Model Risk Officer in Edinburgh
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like NatWest Group. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Model Risk Officer in Edinburgh
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to NatWest Group.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on NatWest Group's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at NatWest Group
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with NatWest Group.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at NatWest Group will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former NatWest Group employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
